Oil majors are “lagging” when it comes to preparing for the low-carbon energy transition, according to a new report from financial watchdog CDP, which nonetheless praised BP, Eni, Equinor, Total, Repsol and Shell for taking the industry’s lead.

A group of financial experts has set out their vision for hardwiring sustainability goals into the European Union’s financial system, calling on 28-country bloc to stop pouring public money into polluting fossil fuels and focus spending on clean energies instead.

The European Commission's High Level Expert Group on Sustainable Finance delivered its interim report today (13 July). Ingrid Holmes, one of the members of the group, explains how the financial system can help address long-term challenges such as climate change.

INTERVIEW / As the G20 opens in Hamburg this week, Europe needs to reflect on how it can push the global green finance agenda without the United States on board, said Christian Thimann, head of sustainability at French insurance group AXA who chairs an EU high-level group on sustainable finance.

Over 100 business leaders worldwide have backed the final recommendations of a global task force set up by the G20 to disclose how companies manage climate-related risk, in a move that could divert trillions of investments away from polluting fossil fuels.